We've never maxed our TSP (I know!) so this has never been an issue. But we are finally doing some financial housekeeping and are getting this done. (This is for active duty military, if that makes a difference.)
Since, as far as I can tell, the only way to select contribution amount now is via % of salary rather than a dollar amount, the numbers won't come out exactly right. If we select a % of his base pay that is approximately $18,000/yr (the 2016 limit) and it ends up being slightly over, am I correct that for the December draw they would just take a smaller number automatically, meaning we'd get exactly $18,000 for the year and no more? It seems like they've made it impossible to go over, but I want to make sure. Do I understand correctly?